The private banking industry has had to modernize as never before to keep pace with the global needs of clients, new regulation and rebuild trust. Change has not come easy, but for those wealth managers that have blended global capability with product expertise in local markets, they continue to stand out from the crowd.

Jürg Zeltner, chief executive of UBS Wealth Management,
commented: "It means a lot to our people that their efforts are
being recognized. Of course it helps enormously to have had
strong investment performance in 2012 but this also
acknowledges how we have stayed close to clients and shared and
explained our capabilities."

With Credit Suisse ranked second
globally, JPMorgan moved up one position on last year to
third, while HSBC is ranked fourth and Citi fifth.

Phil Di Iorio, chief executive of JPMorgan Private Bank,
commented: "Being global as a private bank is critical to
long-term success because both markets and clients have become
more globalized. We are growing fastest in markets outside of
the US, with a particular focus on expansion in Asia and Latin
America."

The 2013 survey is the 10th annual survey conducted by
Euromoney, and reveals the evolution of the private banking
industry during the past decade. The trends that are shaping
the industry are analyzed in detail in the
editorial coverage accompanying the survey results, which
will be published in the February issue of Euromoney magazine
and
available online to subscribers. Coverage also includes
interviews with the heads of private banking at the largest
global wealth management institutions.

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